Consumer Electronics

Consumer electronics market was valued at over US$ 1.7 trillion in 2016, is expected to cross 3.8 trillion by 2024. Product categories under the industry include smartphones, tablets, computers, televisions, game consoles, digital cameras, automotive technologies, wearable technologies, 3D printers, and other home products

Increasing urbanization has led to increase in average income per individual of middle class population across the globe. As per stats provided in the Global Economy & Development Working Paper by Brookings Institution in February 2017, global middle class population was pegged at over 3 billion in 2015 and is projected to surpass 5 billion by 2030. This has led to substantial increase in discretionary income and large potential consumer base, resulting in increased spending on automated home products and electronics. Growing multi-channel retailing has provided easy access to the major international and domestic brands for consumers worldwide. These factors will prominently fuel the consumer electronics market growth.

Advent of IoT and next generation connectivity technologies such as 3G, 4G, 4G LTE and 5G creates a conducive environment for proliferation of smart connected devices. Plummeting costs of bandwidth and sensors further supports growth of smart devices and in turn provides impetus to the overall consumer electronics industry. According to Golman Sachs, as of 2014, cost of bandwidth decreased 40X, while that of sensors decreased 50% over the last decade. Increasing purchasing power and rampant decline in prices of consumer electronic devices places the consumer electronics industry on high-growth trajectory.

Smartphones

Smartphones accounted for around half of the consumer electronic product sales revenue. An estimated 2.1 billion smartphone users were reported worldwide in 2016. However, growth of the segment is expected to be largely stagnant due to maturing of the smartphones industry. The recent past has witnessed the emergence of various cost-effective smartphones from various new brands, offering good processing power and security features. This has resulted in a paradigm shift in the industry, with consumers from extreme ends of the spectrum, namely feature phone users and high-end smartphone users increasingly inclined towards such cost-effective smartphones. China holds the mantle of being the largest market for smartphones, while India is projected to be the fastest growing market, with growth pegged at 5X that of the market leader. Apple and Samsung are two of the largest smartphone manufacturers.

Increasing functionality of the smartphones has led to significant surge in power demands for these consumer electronics. Conventional batteries have proved insufficient in terms of space and power backup, leading to major reason for consumer dissatisfaction. Innovative methodologies to solve these problems are surfacing, that include concepts like wireless charging, li-imide batteries, Quick Charge 2.0 (by Qualcomm), super capacitors, battery packs (Trontium Reactor can charge an iPhone 50 times), and ultra-fast charging (such as StoreDot). Major of these technologies are still in their nascent stages, but players are likely to increasingly invest for improving the operation time of their devices. For instance, in February 2016, Intelligent Energy partnered with an emerging smartphone manufacturing, to develop an embedded hydrogen fuel cell for smartphones that can power the smartphones for a week. This joint development agreement (JDA) was valued around US$ 7.5 million.

Personal consumer applications

TFT LCD, IPS-LCD, resistive touchscreen LCD, capacitive touchscreen LCD, OLED, AMOLED, and Super AMOLED are the common types of smartphone displays. 720p, 1080p, 2K and 4K Ultra HD are few of the standard resolutions offered by these mobile display technologies. AMOLED are gaining substantial popularity in high end phones owing to better color reproduction, low power consumption, better battery life, higher brightness, lightweight designs and display sharpness. Super AMOLED, developed by Samsung, is integrated with touch sensors on the screen itself, making it the leanest display technology in the industry. Increased damage resistance, economical availability and better user experience are the factors that may influence the smartphone sales over the next few years.

Television sales were over US$ 116 billion in 2016, is anticipated witness decline to around 11% in 2017. This is owing to the declining consumer inclinations towards televisions due to proliferation of content streaming and video on-demand services such as Netflix. Burgeoning growth of ease of access to contents from internet sources and better user experiences through means such as mobile, laptops, tablets, etc. Inadvertently, quality video content accessibility through television service providers have gained considerable demands. HD, 4K and HDR options have witnessed increased adoption rates surpassing double digit growth rates year on year. 4K TV sales were almost over US$ 43 billion, with 6.8% by value comprising of HDR counterparts. Europe witnessed notable adoption of HDR TVs in relative to other regions.

High initial costs of the products offering smart and high resolution TVs are expected to hinder the large scale adoption over the coming years. Moreover, low cost alternatives available in the form of LCD TVs will continue to dominate the industry in terms of volumes. Along with high end products, economical alternatives are projected to be part of the product offerings to maintain their foothold in the price sensitive regional segments.

Electronic paper (or e-paper) and foldable displays are expected to gain significant momentum over the next few years. e-Paper is display technology that imitates the appearance of ink on paper. Additionally, these displays can show image in absence of light and are featured to consume little or no power in displaying still image. This property has made it preferable for devices such as e-readers and other forms of promotional devices. Next generation trend is expected to witness large scale adoption of foldable displays. Wearable technologies find considerable potential in medical purposes, recreational activity tracking and infotainment. The segment portfolio includes fitness trackers, smart watches, and headphones. In consumer electronics, wearable technologies are expected to present the highest growth trend over the near future. However, the wearables segment would account for relatively small share of the market.

White Goods

All kinds of domestic appliances such as refrigerators, washing machines, air conditioners, microwave, induction cooktops, food processors, dishwashers and dryers are included under the white goods. These will present considerable growth opportunity in the coming years owing to the advent of smart connectivity integration into these technologies. Increased energy efficiency offered by the next generation products and improving living standards will add on to the featured market growth prospects.

Smart thermostats, connected security cameras, and VR/AR headsets are some other industry segments that will present potential growth opportunity over the forecast timeframe. However, consumer electronics market size is expecting substantial decline in the overall revenues owing to maturing smartphones market and their considerably large contribution to the segment.

Industry Overview

Chief contributors to the industry include Samsung Electronics, LG Electronics, Apple, Hitachi, Koninklijke Philips, Sony Corporation, HP Inc., Toshiba Corp., and Panasonic among a few others. Industry presence can be largely attributed to established brands across the international industry scope along with few regional brands holding significant industry shares.

Consumer electronic market is prominently characterized by innovation and development to increase their product appeal. Providing attractive product designs, along with extra feature additions to the provide value for money to the consumers, are expected to be part of their key strategies to strengthen their industry presence. Strategic alliances to enhance the portfolio/ regional presence and M&A will also define the global competitive scenario. Moreover, government bodies of several major economies are focusing on digitization, will also provide considerable opportunities for the industry participants in smartphones and other portable devices market. Singapore, Finland, Sweden, Norway, and U.S. are among the major economies harnessing digitization, are projected to be a part of every emerging economy across the globe.

Global Content Analytics Market
The content analytics software is a tool, which provides insights on market trends, patterns, and product details to an organization with the integration of structured and un-s

Business Intelligence (BI) and Analytics software Market: Provides Insights and Analytic Information
Business Intelligence (BI) and Analytics software provides the insight and analytic information, which help

Learning Management System (LMS) Market: Increasing adoption of LMS for corporate training
A learning management system (LMS) is a software solution which is used for the reporting, tracking, documenta

Automotive Sheet Metal Components are made from steel or aluminum. These are mainly made by the processes such as cutting, bending, and drawing. Various type of dies and press are used for manufacturing of automotive sheet metal components.

The industrial internet of things is a term used to describe the interconnectivity of industrial processes and manufacturing equipment by adoption of IOT technology. The adoption of sensors in industries have given the birth to industrial IOT market. Sensors help conv

Fog computing also called as fog networking or fogging is used for the architecture provided in the proximity of the users to provide seamless cloud computing user experience. It is also known as edge computing, as it facilitates the functions such as storage, computi

Digital door lock system market refers to the electronic operated physical access systems that have found significant traction over the past decade owing to the increasing concerns for the safety and security of the personal, private, and organizational assets. Moreov

Smart water management refers to the techniques, systems, and devices used to optimize the consumption of water and reduce the impact of polluted water on health, environment, and equipment at minimum cost investment. Rise in urbanization is projected to be a major dr

Narrowband internet of things is a low power wide area network technology specially developed for IOT devices, which requires small amount of data for long time. According to International Energy Agency (IEA), which works to ensure reliable, affordable, and clean ener

A low bed trailer is utilized in various applications and has the capability to carry loads up to 12 feet high. A low bed trailer is majorly used to carry oversized cargo such as industrial equipment, bulldozers. The high spending for infrastructure development in the

A flywheel is a mechanical device that is designed to store the rotational energy. The increasing demand of fuel efficiency vehicles is a major driver for growth of the global automotive flywheel market. The increasing adoption of duel mass flywheels by various OEMs t

Innovation management is an integration of the management change and innovation processes. It refers business process, product and industrial innovation. The changing work culture become one of the key driver for the growth of the market. Various organization adopting

The teach pendant is a device that is used to control the industrial or non-industrial robot remotely. Teach pendant device provides a various settings which helps to control robots and also helps to design and develop new capabilities and features

Integration is a method of programming and supplying industrial robots so that they can perform the task of manufacturing automatically. The key trend which fuel the robotics system integration market is increasing demand of application specific industrial robots. Due

Unmanned combat aerial vehicle (UCAV), also called as combat drones are used as missiles and other ordnance carriers that do not require the onboard human pilots for the control and operation of the drones. These are featured with remote, real time controlling from di

Homogeneous Charge Compression Ignition (HCCI) market refers to the engine ignition which is the combination of Spark Ignition (Otto-Engine or SI-Engine) and Compression Ignition (Diesel Engine). The process utilizes homogeneous fuel-air mixtures similar to the SI-eng

Spacesuit market primarily caters to the limited list of space agencies such as Russian Space Agency (ROSCOSMOS) and National Aeronautics and Space Administration (NASA) that utilize these products for the astronaut survival in the outer space. These also find signifi

LED lighting horticulture market is directly addressed to the businesses associated with the commercial, indoor and R&D activities associated with plants, which is in contrast of the field farming and animal husbandry. These addressable segments are directly depen

Construction dumpers find major application in transportation of loose materials such as gravel, sand, aggregates and other related materials and equipment. It consists of an open bed box at the back-end of the truck, with a hydraulic piston to lift the trailer or hau

Stun guns market refers to the business generated by the non-lethal conducted electrical weapons (CEWs) that are primarily utilized for the self-defense and law enforcement agencies. Ability to incapacitate the potential suspect through the delivery of high voltage el

Flushing systems form an integral part of the lavatory, owing to the requirement to flush the humans discharged waste matter by using water or vacuum to force it down the pipeline connected to the disposable location. These consist of water tank, mechanical components

The implementation of advanced technologies, innovative policies, and business models to address the environmental, financial, and service challenges faced by governmental organizations is known as smart government. The concept of smart governments lies on communicati

A transit card refers to train, bus or metros pass is a ticket that enables the user of a service to take either a specific number of pre-purchased trips or boundless trips inside a limited timeframe. The increasing population in developed and emerging economies and u